In a representative democracy, some responsibility for government extends to all citizens
a. True b. False
Indicate whether the statement is true or false
True
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How did Keynes propose to solve the problem of high unemployment?
A) Increase the growth rate of the money supply. B) Allow wages to decline, so that firms will want to hire more workers. C) Put on wage and price controls, so wages won't rise and firms won't have to lay people off to cut costs. D) Have the government increase its demand for goods and services.
Based on the transactions in the above table, what is the change in the U.S. capital account?
A) $9,800 B) $10,000 C) -$20,000 D) -$20,200
Which of the following is true of market power? a. It is the ability of a firm to increase market price
b. It represents the ability to enter or exit an industry. c. It is the ability to earn an economic profit in the long run. d. It is the ability of a firm to decrease market price.
GDP does not directly measure those things that make life worthwhile, but it does measure our ability to obtain many of the inputs into a worthwhile life
a. True b. False Indicate whether the statement is true or false